By Arnold Namanja
Blantyre, July 13, Mana: Old Mutual Pension Services Company has urged Malawians to consider joining voluntary pension scheme services for a better future.
Old Mutual Pension Services Manager, Taonga Manda made the call during a half-day media training held in Blantyre, jointly organized by the Media Institute for Southern Africa (MISA) Malawi, Association of Women in Media (AWOME) and Old Mutual.
Manda emphasized the benefits of voluntary pensions under Malawi’s Pension Act of 2023.
He observed that the majority of Malawians are not in formal employment settings that would cover them under mandatory pension schemes; hence, they should take advantage of the new arrangement that gives them the liberty to decide how much they want to save for the future.
“These savings will help you and your dependents in the future when they retire. We have a large population that is not covered in formal employment settings thereby creating the need to sensitize them about planning for their future from the little they earn,” he added.
Manda also pointed out the importance of journalists in disseminating the information to the masses, noting: “Journalists are a reliable tool for spreading information of this kind, so we thought of engaging them to ensure they understand the basics of the law for effective presentation of facts.”
MISA Malawi National Governing Council Member, Chikondi Mmanga Kasambara expressed hope that the media will benefit from the training both in providing accurate information to their audience and in their own future planning.
“As a governing body of journalists in the country, we are glad that our members are among the first beneficiaries,” said Kasambara.
“If they are well-informed, they will be able to send out accurate information. We know Old Mutual cannot disseminate this information on its own; they will rely on the media,” she added.
Statistically, 90 percent of the country’s population is not in formal employment, underscoring the need to adopt voluntary pension schemes.
